Which of the Following Are Activities of the Purchasing Function

question 45

Multiple Choice

Which of the following are activities of the purchasing function? 

• A) Selecting the best possible supplier 
• B) Recruiting staff 
• C) Distributing goods and services 
• D) Financial control

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Definitions:

Inflation Rate

The speed at which the overall price level of goods and services increases, leading to a decrease in purchasing power.

Price Index

A measurement that shows how the average price level of a selected set of goods and services has changed over time.

Vertical Axis

The y-axis in a graph or chart, which is typically used to represent the range of one of the variables in the data.

Phillips Curve

An economic theory that suggests an inverse relationship between the rate of inflation and the unemployment rate.